what is accounting? pls tell me in exact definition
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Answer / suresh lakra
Accounting is the art and science of recording classifying
summerising in a significant manner in terms of monetary
transaction event which in part at least of a financial
character and interpreting the result thereof.
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accounting is the systematic way of entering all the
business transactions in various books of accounts.it
involves in various stages like....
1.journalising of all day to day transactions of business
ina book called journal and the procedure is called journal
entries
2.from journal, post them into various accounts called ledger
3.from the balances of ledger prepare trial balance.
4.from trial balance prepares final account i.e, Trading and
profit and loss a/c and Balance sheet
from the balance sheet we came to know whether the company's
financial position is sound one or not.......
from satish ;)
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / venugopal_reddy_4u@yahoo.com
finance means procuring funda for effective utilisation is
called finance.
it is just like a heart to any organisation..
| Is This Answer Correct ? | 5 Yes | 1 No |
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